SOL / USDT Trade setup 11 december 2021
Updated
This is the stetup I'm going with for Solana in the coming days
The RSI is at overbought at the moment so I think it's possible to see a pullback towards the lower support again. I will enter a position there. I think we could see a bounce back from there and at the top of the box I will close my position. I don't think we are going to see a big run up in the remainder of 2021 so I'm looking at small trades now.
On the 4 hour timeframe the RSI indicator is showing a bottom right now just like the daily timeframe this makes me believe we aren't going any lower for the time being and just consolidate sideways for now.
ENTRY 165 - 160$
TP 180 - 172$
SL around -2% of entry
The RSI is at overbought at the moment so I think it's possible to see a pullback towards the lower support again. I will enter a position there. I think we could see a bounce back from there and at the top of the box I will close my position. I don't think we are going to see a big run up in the remainder of 2021 so I'm looking at small trades now.
On the 4 hour timeframe the RSI indicator is showing a bottom right now just like the daily timeframe this makes me believe we aren't going any lower for the time being and just consolidate sideways for now.
ENTRY 165 - 160$
TP 180 - 172$
SL around -2% of entry
Trade active
Entry zone is hit trade is active
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